Professional Documents
Culture Documents
Uttar Pradesh
India 201303
ASSIGNMENTS
PROGRAM: MFC
SEMESTER-II
Subject Name
Study COUNTRY
Roll Number (Reg.No.)
Student Name
:
:
:
:
INSTRUCTIONS
a) Students are required to submit all three assignment sets.
ASSIGNMENT
Assignment A
Assignment B
Assignment C
DETAILS
Five Subjective Questions
Three Subjective Questions + Case Study
Objective or one line Questions
MARKS
10
10
10
b)
c)
d)
e)
Signature :
Date
:
_________________________________
_________________________________
Q.1
(2 Marks)
(2 Marks)
(2 Marks)
Assignment B
(10 Marks )
Assignment C
( 10 Marks )
Each question given below carry equal marks of 0.25
(i.e 0.25*40 = 10 Marks)
Q.1
Q.2
Q.3
Q.4
Q.5
Q.7
Q.8
Q.9
Q.11
Q.12
Q.13
Q.14
Corporate taxation does not play any significance role in determining the choice
between different sources of finance
(a)True
(b)False
Q.15
A Company want to purchase a plant (cost: Rs. 80 crore).It can out rightly
purchase it. Alternatively, it can take the plant on lease. The following factors are
taken into consideration to find out which one is better
(a) Corporate tax rate;
If corporate tax rate is reduced the tax saving on account of depreciation will
increase (a) True
(b) False
(c) True in some cases
(d) None of the above
Q.17
Q.18
If borrowed funds are used for purchase of a plant and tax rates are reduced,
the tax saving will increase (a) True
(b) False
(c) True in some cases
(d) None of the above
Q.19
Q.20
(a) True
(b) False
(c) True in some cases
(d) None of the above
Q.21
Q.22
companies.
Q.24
Net wealth is calculated as(a) Assets chargeable to wealth tax less the exempted assets
(b)Assets chargeable to wealth tax less debt owned
(c) Assets less debt owned
(d)Assets less exempted assets
Q.25
Q.27
A firm is
(a)Not liable to wealth tax
(b)Liable to wealth tax
(c) Not liable to wealth tax but partners share in the value of the assests of the firm
shall be included in the net wealth of the partner
(d)All of the above
Q.28
Q.29
Q.30
Q.31
(A) 1919
(B) 1921
(C ) 1948
(D) 1954
Q.32 VAT WAS FIRST INTRODUCED BY THE:(A) FRANCE
(B) GERMANY
(C ) USA
(D) UK
Q.33 WHICH IS MOST COMMON VARIANT OF VAT USED WORLD WIDE:(A) GROSS PROFIT VARIANT
(B) CONSUMPTION VARIANT
(C ) GROSS PRODUCT VARIANT
(D) GROSS INCOME VARIANT
Q.34 TIN MEANS:(A) TAX INFORMATION NUMBER
(B) TAX INDIA NUMBER
(C ) TAX IDENTIFICATION NUMBER
(D) TAX INTRODUCTION NUMBER
Q. 35 VAT INTRODUCTION WILL CERTAINLY:(A) MAKE THE REVENUE COLLECTION WORST.
(B) MAKE THE REVENUE COLLECTION BETTER.
(C ) THE REVENUE COLLECTION ARE THE SAME.
(D) REVENUE VOLUME HAS NOTHING TO DO WITH
INTRODUCTION OF VAT
Q.36 THE ACCOUNTING UNDER THE VAT WILL BE:-
Q.38 WHICH IS MOST COMMON VARIANT OF VAT USED WORLD WIDE:(A) GROSS PROFIT VARIANT
(B) CONSUMPTION VARIANT
(C ) GROSS PRODUCT VARIANT
(D) GROSS INCOME VARIANT
Q.39 DUE TO INTRODUCTION OF VAT:(A) TAX EVASION IS RESTRICTED.
(B) TAX EVASION IS INCREASED.
(C ) VAT HAS NOTHING TO DO WITH EVASION OF TAX.
(D) TAX EVASION HAS BECOME EASY.
Q.40 THE ACCOUNTING UNDER THE VAT WILL BE:(A) REGULAR AND CHEAP.
(B) REGULAR AND EXPENSIVE
(C) IRREGULAR AND CHEAP.
(D) IRREGULAR AND EXPENSIVE